Total contract value increases to $10 million from May
2022
TORONTO, Feb. 13,
2023 /CNW/ - Think Research Corporation (TSXV:
THNK) ("Think" or the "Company"), a company focused
on transforming healthcare through digital health software
solutions, is pleased to announce that it has expanded its original
$6.4 million contract announced
on September 8, 2022, with
a global pharmaceutical company by approximately $3.5 million, bringing the total value up to
approximately $10 million.
The contract expansions include a number of new and
exclusive learning modules that were added to Think's online
Learning Management System ("LMS") SaaS platform; these
modules started delivery in 2022 and will continue throughout 2023.
Revenue from the contract expansion will be earned based on the
achievement of various contractual milestones and the delivery of
applicable programming during fiscal 2023. The overall agreement
encompasses Think's Clinical Content solutions along with the
LMS to provide a broad offering of content, clinical education,
essential data services and software.
Sachin Aggarwal, CEO, Think
Research said, "We are pleased that global clients are
continuing to gain significant value from Think's emerging Learning
Management System. Our platform approach to delivering essential
data, services and solutions for clinicians continues to gain
momentum across all of our lines of business. Combined with our
earlier announcement, we have been able to secure approximately
$5.5 million of incremental revenue
this week across multiple services and solutions and the sales
pipeline continues to grow."
About Think Research
Corporation
Think Research Corporation is an industry leader in delivering
knowledge-based digital health software solutions. The Company's
focused mission is to organize the world's health knowledge so
everyone gets the best care. Its evidence-based healthcare
technology solutions support the clinical decision-making process
and standardize care, to facilitate better health care outcomes.
The Company gathers, develops, and delivers knowledge-based
solutions globally to customers typically including enterprise
clients, hospitals, health regions, healthcare professionals, and /
or governments. The Company has gathered a significant amount of
data by building its repository of knowledge through its network
and group of companies.
Think licenses its solutions to over 13,000 facilities for over
300,000 primary care, acute care, and long-term care doctors,
nurses and pharmacists that rely on the content and data provided
by Think to support their practices. Millions of patients and
residents annually receive better care due to the essential data
that Think produces, manages and delivers.
In addition, the Company collects and manages pharmaceutical and
clinical trial data via its BioPharma Services subsidiary.
BioPharma Services is a leading provider of bioequivalence and
Phase 1 clinical research services to pharmaceutical companies
globally. Think's other services include a network of digital-first
primary care clinics and medical clinics that provide elective
surgery. Visit: thinkresearch.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For more information:
https://www.thinkresearch.com/ca/investors/
SOURCE Think Research Corporation